Special-purpose acquisition companies (SPACs) are staging a comeback as a wave of blockbuster IPOs creates an opening for smaller firms seeking to go public without competing for investor attention against giants such as SpaceX, Anthropic and OpenAI.
The resurgence is giving blank-cheque companies renewed relevance after years of upheaval following their pandemic-era boom and bust. Analysts and industry insiders say a more mature SPAC market is emerging just as mega-IPOs are expected to command an outsized share of investor capital and attention.
